Brazil's vehicle sales increase seen continuing in 2019 - Fenabrave

Automobile and light commercial vehicle (LCV) sales in Brazil is forecasted to increase 11% in 2019, according to the country's motor vehicles distribution federation Fenabrave.

This follows three consective years of improved sales in the country. In 2018, new automobile and LCV sales were up 13.7% to 2.47mn from 2.17mn.

According to Fenabrave president Alaric Assumpção Jr., this was due to a drop in the interest rate and debt reduction which led to better credit offers last year.

The federation actually bumped up their forecast four times in 2018. "We started the year expecting a more moderate increase. However, with improvements in the economy and consumer confidence throughout the year, the performance of the automotive sector ended up being higher than expected," says the executive.